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India's DLF to buy out Dubai World in JV

Mumbai, July 26, 2010

Indian real estate firm DLF is buying out the stake held by Dubai World's property arm in an equal joint venture in India for about 2 billion rupees ($43 million), the Economic Times reported on Monday.

A unit of DLF will buy the stake owned by Limitless Group, which is a part of Dubai World, in Bidadi Knowledge City in southern Karnataka state, the newspaper said, citing a person with direct knowledge of the transaction.

Officials at DLF and Dubai World could not immediately be reached by Reuters for comment. – Reuters




Tags: Dubai World | limitless | DLF | Mumbai | JV |

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